Banning Cash “Necessary to Give Central Banks More Power”

This article was written by Paul Joseph Watson and originally published at Infowars.com.

Editor’s Comment: It is already astounding how much power has already been given to central banks since the last crisis; QE alone gave the Federal Reserve nearly complete power over the economy. But it is even more outrageous that the elite members of these institutions, of the big banks, and of the media outlets that represent their interests are blaming the people holding cash for today’s relapse into fiscal oblivion, and demanding that cash be abolished, rather than the policies that have brought us to the brink.

It is absolutely the problem-reaction-solution method at work, to force the population onto a totally digital, tracked and traced electronic currency.

Financial Times Calls For Abolishing Cash

by Paul Joseph Watson

The Financial Times has published an anonymous article which calls for the abolition of cash in order to give central banks and governments more power.

Entitled The case for retiring another ‘barbarous relic’, the article laments the fact that people are stockpiling cash in anticipation of another economic collapse, a factor which is causing, “a lot of distortion to the economic system.”

“The existence of cash — a bearer instrument with a zero interest rate — limits central banks’ ability to stimulate a depressed economy. The worry is that people will change their deposits for cash if a central bank moves rates into negative territory,” states the article.

Complaining that cash cannot be tracked and traced, the writer argues that its abolition would, “make life easier for a government set on squeezing the informal economy out of existence.”

Abolishing cash would also give governments more power to lift taxes directly from people’s bank accounts, the author argues, noting how “Value added tax, for example, could be automatically levied — and reimbursed — in real time on transactions between liable bank accounts.”

The writer also calls for punishing people who use cash by making users “pay for the privilege of anonymity” so they will, “remain affected by monetary policy.” Dated bank notes would lose their value over time, while people would also be charged by banks for swapping electronic reserves for physical cash and vice versa.

The article echoes an argument made by Kenneth Rogoff, former chief economist of the International Monetary Fund, who has called for high denomination banks notes such as the €100 and €500 notes to be phased out of existence.

As we previously reported, Rogoff attended a meeting in London earlier this year where he met representatives from the Federal Reserve, the ECB as well as participants from the Swiss and Danish central banks. The issue of banning cash was at the forefront of the agenda.

Last year, Rogoff also called for “abolishing physical currency” in order to stop “tax evasion and illegal activity” as well as preventing people from withdrawing money when interest rates are close to zero.

The agenda to ban cash was also discussed at this year’s secretive Bilderberg Group meeting, which was attended by the Financial Times’ chief economics commentator Martin Wolf.

Former Bank of England economist Jim Leaviss penned an article for the London Telegraph earlier this year in which he said a cashless society would only be achieved by “forcing everyone to spend only by electronic means from an account held at a government-run bank,” which would be, “monitored, or even directly controlled by the government.”

In the UK, banks are treating the withdrawal of cash in amounts as low as £5,000 as a suspicious activity, while in France, citizens will be banned from making cash payments over €1,000 euros from Tuesday onwards. The withdrawal and deposit of cash over the amount of €1,000 euros will also be subject to ID verification.

“Of course, if cash were involuntarily “ended,” there would be a surge in demand for physical gold and silver, which would then necessitate a ban on those items. Then the cycle of economic and financial tyranny would be complete, and crawling our way out of it, nearly impossible.”

This article was written by Paul Joseph Watson and originally published at Infowars.com. Paul Joseph Watson is the editor at large of Infowars.com and Prison Planet.com.

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A Right Not Exercised is a Right Lost! How many on here is going to sit behind the computer and complain and then get up and go down town and whip out their debit card. Put your Cash where your mouth is. Strap on your Gun for the whole world to see, and get out those GreenBacks. Trekker Out. Use It Or Lose It!

The majority doesn’t carry cash. And they don’t see what’s coming. If tptb say all cash over X years old will expire next month everyone would have to turn theirs in for new or deposit it.

Then another order says next year no more bills over 20’s. And so on until theres nothing left.
Most wouldn’t even notice.

I believe we’re heading for a crash so what good does it do stocking up on fiat dollars. Stick with physical commodities, whatever you think best and at least you’ll have something after tshtf.
molon labe

While I agree physical assets are best. In the event that a full on collapse doesnt happen over night but over a period of months where the government shuts off bank accounts, atms etc. I think having a few hundred dollars on hand isnt a bad idea to cover immediate payments or buy last minute items. Im constantly trying to improve my preps and if I have some backup funds immediately available I can use that for anything I might possible need in the future. I think the sheeple will remain asleep as long as possible until theres no denying whats really upon us. While theyre still saying “well my bank cards wont work but the govt says its only temporary” I can be out shoring up anything I need to before the S really does HTF with the few emergency dollars i have for just the occasion. Just my .02.

TnAndy: I hope you are correct. But Gov. Jindal banned cash in Louisiana for a lot of purchases, including yard sales. So, it can happen. And in my opinion, the main reason to ban cash is to force the underground economy, such as cash and bartering, above ground so more taxes can be collected. All things government, always lead to ever higher revenue for funidng their ridiculous salaries, benefits, and retirement packages.

A lot of the underground economy is drugs, so that can’t be forced above ground. It would simply be severely curtailed.
Same with people that work on, and off, the books. They mostly won’t work extra because of the tax burden if forced to go above ground.

Then the problem becomes how does the govt deal with falling tax revenues the underground economy generates ? No, most of them do not pay income/SS tax on their income, but they don’t stuff it in a mattress either….they SPEND it. That means sales taxes. And the income from those sales means a WHOLE lot of secondary income/SS tax, plus inventory taxes, real estate taxes, and a few dozen other taxes that WON’T happen if those sales don’t take place.

No, the underground economy, especially the drug economy, is so vital to the above ground economy that only a token “war” on drugs (and the rest of the UG economy) has ever been fought. They DON’T WANT TO WIN IT…..because all it would take is the elimination of cash, and the war would be over…..and the entire economy would be toast.

SO, I’ll say it again…..you won’t see the end of cash in your lifetime, assuming the paper buck is still accepted by persons on both sides of a transaction.

I carry a certain amount of cash on me all the time. I’ve lost count of how many times I’ve seen CC readers and/or the phone lines they’re connected to malfunction. Most of my personal transactions are already done in cash. All of my prepping transactions are done in cash except when I do some occasional online shopping and I do as little of that as possible. I agree it would be impossible to ban cash, although it is possible to place some limits on it.

Keynesians theorize that you stupid peasants exist to put your money into banks, thereby increasing the bank’s holdings and allowing it to create more loans, resulting in an increase of the money supply and theoretically a reduction of unemployment.

THE PROBLEM IS THE FED’S DUAL MANDATE TO KEEP UNEMPLOYMENT LOW AND KEEP THE DOLLAR VALUE STEADY.

Keynesian economics does not work. I took economics in college. It started out with reasonable material, such as supply and demand. Part way through the book, it turned into crap I knew was wrong, so I quit.

The only mandate the Fed really recognizes is the one to make the bankers richer, no matter what else happens to the country. The Fed needs to be abolished.

My experience exactly. I came out of high school with a desire to save the world. Economic determinism and all that. Right off, Samuelson drove me up a wall, he was so illogical. Then it got worse. I lasted thru the first semester of junior year, then dropped out.

BTW a chum of mine actually had Samuelson as a prof when he was at MIT. Said that man had an ego the size of Manhattan.

Later on we used to say that they thought Keynes was God, and John Kenneth Galbraith was His Prophet. And that Samuelson was jealous.

Yeah. these asshats havent been through small rural town america where small businesses are still cash only. When I travel to my home town, I have to have cash if I plan on buying anything while Im there. they just laugh at you if you pull out a piece of plastic.

They NEVER wanted to “get rid of gold”, they wanted to keep it for themselves and leave us with valueless paper trash in its’ stead. They did it, too, and we allowed it! There’s not a drop of gold in Ft. Knox and hasn’t been for a long, long time.

Just get the RFID chips out, set up the booths in the local WalMart shitholes, and tell the coward pussy Zombie filth to bring their children they should of never had. The Zombies are so ready for complete and total control….I have no idea what the Corporatist Fascist evil monster shit stains are waiting for, the Zombies are ready, willing, and more than able for their end game of RFID chipping and their FINAL SOLUTION of de-population. It is over for the collapsing Orwellian Fascist Police State evil vile disgusting shithole of the world, just give the coward pussy Zombies the control they want and get it over with already.

Having some knowledge on firearms has made me a couple of pennies lately. Worked on cleaning up a couple of rifles and got a bright and shiny silver dollar. I was asked what I wanted for working on them and I told them. If they want to pay in cash I tell them no I want silver. So far no complaint and people have been paying for the work that way. So far 3 silver dollars.
Sgt.

What do you mean a few years ago? It’s still being used as currency – except that it grows old (crystallizes) or you have no place to store and no buyers, it’s an excellent untraceable currency. It won’t rot like food, it’s something that is ‘renewable’ (compared to mines) and it’s something that is needed in general society {or at leas they are convinced it is…} It can be used up.

As currency, there’s hard choices to be made:
1) Actual value (can it be used to either build or create something if people suddenly don’t want it?)
2) Perceived value (do people want it?)
3) Hard to forge/counterfeit (relates to it’s value, valuable due to supply being limited.)
4) Long life (decays slowly, hard to destroy)
5) Small, easy to carry
6) Doesn’t rely on external machinery (bitcoin.)

Personally I think man-made/natural elements (isotopes) that are uncommon and stable but are hard/slow to be created should be the basis of our currency – example tritium? Something that is not abundant naturally but lasts a long time and is easily checked for forgeries.

On precious metals – they are very stable, there is presently a maximum amount available from mining (lack of abundance), they are useful and are considered valuable by people. Pretty good basis for transfer of man-hours. JMHO.

I don’t trust bitcoin because it requires a whole system to make it AND it has no intrinsic value without others – only perception makes it useful, without that, it’s just a piece of data.

Clause 1:
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
Clause 2:
No State shall, without the Consent of the Congress, lay any Imposts or Duties on Imports or Exports, except what may be absolutely necessary for executing it’s inspection Laws: and the net Produce of all Duties and Imposts, laid by any State on Imports or Exports, shall be for the Use of the Treasury of the United States; and all such Laws shall be subject to the Revision and Control of the Congress.
Clause 3:
No State shall, without the Consent of Congress, lay any Duty of Tonnage, keep Troops, or Ships of War in time of Peace, enter into any Agreement or Compact with another State, or with a foreign Power, or engage in War, unless actually invaded, or in such imminent Danger as will not admit of delay.

So the way I read clause 3, those of us here in Texas CAN AND SHOULD GO TO WAR WITH Mexico. Our southern border with Mexico is invaded by illegals EVERYDAY. LOCK AND LOAD Texans, time to defend the Republic of Texas.

The article prohibits STATES from creating fiat money. The generation of fiat money by the individual states during the Revolution had led to all kinds of difficulties and a great deal of hanky-panky by people whom we would today call banksters. The Constitution was in large part motivated by a desire to better manage the debts incurred by the States. Which it did.

“No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.”

The article is correct that if they do it we won’t be able to crawl back out of it. The funny thing to me is that one of the only places I’ve had to use cash or check in the last decade was the DMV and county courthouse. When you go to renew your license here you must pay with cash or check, they don’t take debit cards.

Other than the DMV who doesn’t take cards? Most Americans wouldn’t be greatly bothered by no cash. Cash is inconvenient for me and I only have some because the government hates it.

As long as people keep opsec and have a useful skill (farmer, carpenter, barkeep, mechanic etc.) there will be an underground economy. It’s only those dependent on the system for a job that won’t be able to get out (IT, social workers, managers…skills that require a ‘modern’ society.) Of course the better you are at networking with those that actually have an ‘edible’ skill, the more chance you have of successfully avoiding the ‘FEMA’ system.

Over here there are a lot of folks who dont play the game, it isnt easy but self sufficiency was never supposed to be, sure theres stuff you cant avoid, like auto registration, insurance, sales taxes, but if were going cashless im betting i wont be the only one dokng things differently

The Vietnamese mamasan’s bartered with Tide detergent and Salem cigarettes. I read where in China you can take the bank notes to an ATM and exchange for gold. India and China citizen’s hold gold. Chinese yuan is gold backed, not sure about India. What is backing the dollar? Is there any gold in Ft. Knox or has it all been stolen away? People hold their dollars because of the uncertain future. The TPP and the other scam pushed will render capitalism more dead on arrival than it now appears. What a corporate fascist shit hole America has become.

Mac, i had a similar situation when my wife was alive, but not now. My spare cash is held back for my preps, NOT for any credit card bill or car note or any other credit crap. Being debt-free has a certain advantage to it.

One of my best friends growing up, married a much younger and smarter than he, woman some twenty years ago.

She immediately took control of the money and curtailed his golfing activities. He traded in his golf time for remodeling a fixer upper house for them.

She handled all the $$ and he got his weekly allowance out of his check and that was it. He could only golf once in a while instead every few days.

After twenty years, he got less sex, and she began taking vacations with the girlfriends, while he stayed home and kept everything going…pets and yard work, also housework.

I finally got him out to play nine holes one day, and he told me about his situation. My response was, “man, you are screwed”, you are a prisoner in your own home, dominated by the queen you help create”. He said it wasn’t that bad, but just dropped his head in doubt.

Less than two years later, she had left him and demanded half the equity in the house and land. He couldn’t afford to borrow and pay her off, so the house had to be sold. He was then renting, and drinking with some losers at the bar.

Twenty years of love and bliss? I would have rather been golfing and single. At least all my hard work would have not gone to an ungrateful bitch that turned lezzie.

As with all other vile encroachments on Liberty, this movement will be accompanied by continual, lavish praise disseminated through the MSM to explain how each click of the locks being close by totalitarian government is a marvelous step towards greater freedom, an easier life, and fairness for all.

First , cash can’t be hacked. Second,they would have to take all the guns before they tried. Third, we don’t live in a civilized world as much as they think we do. A million man march on Washington would look like a picnic if they try and would not just be a peaceful protest

It sounds like you’re talking about confiscation of cash, but that’s not what they’d do, at least not directly.

Just like in Europe, they’d pass laws making it illegal to make cash purchases above a certain dollar limit.

They could simply stop printing any currency larger than $20, or maybe even $10, and set a time limit on the legal use of larger bills.

They could also ‘tax’ you on any transaction done in cash, including any and all banking transactions.

There are many ways they could do it, if they wanted to, but don’t kid yourself into thinking there would be enough people who would take up arms to keep their cash, especially since most people hardly have any.

Just issue future cash with an expiration date where it either has to be spent or deposited or becomes worthless after expiration.

Then declare all existing non expiration dated notes as expiring on a certain date with the same stipulations.

You still have cash that way, you just don’t want to possess it and would deposit it first since those accepting it as payment would want to get rid of it as fast as possible after receiving it and depositing it would be the most convenient way.

Simply make it illegal to deposit cash in any bank, illegal to pay taxes except by transfer of fund from a bank account, illegal to pay any mortgage or car loan payment by cash, etc., etc. Anybody using cash would be forced completely out of the “above-ground” economy.

This is what will happen to gold and silver, too. Probably well before paper money is squeezed out.

But it’ll never happen IMHO. Too many politicians are either directly involved in drug dealing and/or other illegal activities. They’d be hurt personally if they voted to ban cash.

Things are speeding up. Prepare to live under Stalinist rule within a few years. Both parties suck. But if a Dem gets the Presidency this time, there will never be any kind of Prez after that. Why? All Supreme Court Justices appointed will be Marxists. They will rule in favor of the Civil Rights Division of the Justice Dept. The Civil Rights Division is loaded with Marxists and Black Racists.

Billy, they aren’t going to save us. All I was saying is the Dems don’t play when it comes to race. If you were paying attention to Eric holder the last several years, you would have known where I was coming from.

The GOPe (existing rulers of the R Party) won’t lift a finger to save us, but the insurgents (Cruz, Walker, even Trump) might set the trend back a few steps. I won’t hold my breath, or start consuming any of my preps, though.

Here’s another surprise for you. No currency? The Mexican Peso is trading at almost 17 to 1 US Dollar. After the big reset, some years ago, it was trading at 10 to 1. The Peso is getting worse faster than the Greenback. Jade Helm is practicing for millions of Mexicans swarming over the border all at once. If you live near the border, get ready for it. When they took the zeroes off the back of the Peso, back then, it started the speed up of the migration north.

Heck Sgt Dale, since when did not being able to handle ones existing power ever stop a psychopath from wanting to have more?

Even if we have cash, we are part of their system and are still slaves, like it or not. Debt makes one more of a slave, for sure, but as long as they continue to devalue the dollar, and we continue to use it, in any of its forms, we are in slavery to them. It’s only a matter of magnitude.

Off Topic!
Stock market starting to fall again today. This is the day I was worried about, and also Monday. If the market looses over 250 points today and Monday, I believe we are in a world of trouble!!!! (IMHO)
We will see.
Sgt.

Well Hell – make me cry again. I don’t recall that making life easier for the banks and bankers that have caused all this damage was a priority in America! And they don’t stimulate the economy – they replace real value with paper trash and laugh as they walk off with gold! America came INTO existence in the first place because the rich and powerful had a literal death grip on every living soul within their reach in the old countries. The people who did the actual, physical work that builds a civilization were pushed into poverty so deep that no matter how hard they worked, they barely had enough to eat, little shelter, and one injury or illness could destroy them! Everything for the few, nothing for the rest is the “elite” idea of Paradise, and everyone’s idea of a place that makes Hell seem welcoming! THAT is their plan once again. Or STILL, and it’s time we nipped this in the bud!

The abolition of cash “…“makes life easier for a government set on squeezing the informal economy out of existence.”

And that makes it easier to all but remote-control every living human soul. I understand they’ve got THAT down too to some extent. They’re like an uninvited dinner guest that no one questions in time and everyone thinks he belongs; then he walks out the door with the rest in his pockets, having eaten most of the dinner. He disappears with the food intended for many who must now go hungry. No doubt he’ll dump the remainder in a ditch somewhere and laugh, gloating about how clever he is.

Clearly this is so – so it’s time to STOP IT! This effort to put an iron collar with a leash around the necks of everyone on the planet is the last gasp of the so-called “elites”, their last try at ruling the Earth and those few people they permit to survive for their own profit and amusement.

The U.S. Government was created to be a servant of the people. After the Rothschilds and their people got their hands on it, it was immobilized and the counterfeit now in Washington D.C. quietly took over. Meanwhile Americans went about their own business of trying improve their own lives, and for those with the talent, everyone else’s, thinking that business was taken care of. Now we’re essentially prisoners in the country our ancestors built with their own hands, often at the cost of lives. America was rich land when it began, with enough resources to feed, house and clothe any reasonable number of people; education turned out people with real knowledge and drive. With care that could have continued indefinitely. The rich have poisoned everything in the pantry, peed in the water, and demolished almost every living resource there was while more and more of us are left wandering, homeless and hungry, while too many high school and even college graduates can barely read! Where is our indignation? Where is our anger?!?

I’m pretty sure that the Financial Times’ article was not written to convince the vast majority of citizens to go cashless. They are definitely speaking to TPTB to make it happen as soon as possible in order to gain more control over our lives.

OH wait! I’m sorry. They are leftist cronies, so – as per Leona Hemlsley’s old comment, “Laws only apply to us little people” – not the socialist cronies (cf. Hillary and her scams that would have put anyone else in jail)

When did it become important to have three names. Paul Joseph Watson, Paul Craig Roberts, Thirsten Howell the Third. It seems an attempt to show importance. Sorry if I’m seeming petty here but it is a bit telling I think.

FRNs can be tracked, if TPTB wished, every time you get some from the bank or exchange cash with a business. They all have serial numbers that can be scanned very easily. Hopefully they haven’t thought of that yet.

In the meantime, I would get all the small bills I could before they do think of scanning them. Then underground transactions could completely evade detection by never letting the bills we have go through an establishment that scans the bills.

Sometimes its as simple as just saying No! In 2009 at the N.A.I.S listening session i told the goverment that i would not comply with a rule to chip our livestock even if it meant going to jail. I was not alone and a week later Mr. Vilseck had a private session with a group of us. Last week at a local drugstore I wanted to buy a pack of smokes and the clerk said “need to see your License”. I said no you dont. keep the smokes.At 61 and a vet im not going to submit to that crap. You get the point, millions of folks just start saying no thanks and start wearing them out.

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